Castine, Ohio Property Taxes
The median property tax rate in Castine, Ohio is 1.41%, considerably higher than the national median of 0.99%, though lower than the Ohio state median of 1.80%. With the median home value in Castine at $63,970, the typical annual property tax bill reaches $789, which is significantly below the national median of $2,690. Property taxes in Castine are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Castine's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Castine or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Castine, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Castine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Castine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Castine to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Castine, Ohio
Property taxes in Castine, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Castine is 1.41%, significantly higher than the U.S. national median of 0.99%. Local government entities within Castine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Castine estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Castine's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 45304 has both the highest and lowest median property tax rate of 1.41%. Understanding how these cities compare with Castine provides valuable insights into the varying tax landscape across Darke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Castine Tax Rate
1.41%
Average Darke County Tax Rate
1.34%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Castine, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45304 | 0.99% | 1.41% | 1.41% | 1.44% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Castine, Ohio
In Castine, Ohio, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Darke County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Castine, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Castine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 45304, with a median tax bill of $789.
Average Castine Assessed Value
$63,970
Average Darke County Assessed Value
$110,800
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Castine, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45304 | $23,834 | $53,850 | $63,970 | $87,810 | $103,342 |
Source: Ownwell
Property Tax Bills Across Castine, Ohio
In Castine, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $63,970, homeowners can expect a range of tax bills. At the 25th percentile, tax bills are around $637, while at the 75th percentile, they rise to approximately $1,138. The top 10% of tax bills can reach up to $1,567. Factors influencing these calculations include property size, location, and any applicable exemptions or deductions. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in Castine. Compared to the national median property tax rate of 0.99%, Castine’s tax rates may vary but remain a crucial part of homeownership costs, influencing both affordability and long-term investment value.
Average Castine Tax Bill
$789
Average Darke County Tax Bill
$1,406
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Castine, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45304 | $344 | $637 | $789 | $1,138 | $1,567 |
Source: Ownwell